(Bloomberg) -- German online car-parts dealer Autodoc SE has picked banks to help arrange a potential Frankfurt initial public offering, several years after its previous attempt, according to people familiar with the matter.
The company selected Barclays Plc, Citigroup Inc., Deutsche Bank AG and Jefferies Financial Group Inc. to lead the share sale, which could take place next year, the people said. Its valuation in an IPO could be lower than the €10 billion ($11 billion) it was seeking in 2021, Bloomberg News has reported.
Deliberations are ongoing and details of the potential offering could still change, the people said, asking not to be identified a the information is private.
Representatives for Barclays, Citi, Deutsche Bank and Jefferies declined to comment. In response to Bloomberg News, Autodoc referred to a previous statement made on Oct. 4 that it’s engaged in ongoing strategic considerations and a public listing is one of the preferred options. Its representative declined to comment on the appointments.
Autodoc sells auto parts across Europe through its online platform and has more than seven million active customers. It reported €1.3 billion in revenue in 2023 and has more than 5,000 employees across 10 countries, according to its website. Apollo Global Management Inc. took a minority stake in Autodoc earlier this year at a valuation of €2.3 billion.
Autodoc made a previous listing attempt in 2021 at the height of an IPO boom in Europe, Bloomberg News reported at the time.
©2024 Bloomberg L.P.